Analytics has been on the rise for the last decade. It is one of the many reasons for the success of a company. A company that is trying to understand trends and customer needs will definitely use analytics.
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Along with discussing the different types of analysts, we are also going to discuss what they do, their skill requirements, and their salaries in top countries such as the US, UK, India, Canada, and Australia. The sources of the average salaries are Payscale and Indeed. So now, let us get going.
What is Analytics?
Analytics means the detailed examination of elements or structure of something, in our case, it is data. Nowadays, every business is an analytics business. This is the field that is used to find meaningful patterns in data and discover new knowledge and insights that could help the company in some way.
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Who is an Analyst and what do they do?
An analyst is a person who is responsible for gathering, studying, and interpreting data in a way that everyone can understand. An analyst tries to look for patterns in the data and make significant decisions and changes. Different types of analysts work in different industries helping in formulating decision-making strategies and improving efficiency.
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Types of Analysts
As mentioned before in the blog, different types of analysts work in different types of industries. Most analysts analyze the data but the methods and reasons for analyzing might differ in different industries. So, here are the 10 most popular types of analysts along with their roles and responsibilities, skills required, and average salary in some countries.
- Data Analyst
- Network Analyst
- Economic Analyst
- Operations Analyst
- Business Analyst
- Computer Systems Analyst
- Technical Analyst
- Management Analyst
- Business Systems Analyst
- Program Analyst
Data Analyst
Data analysts are professionals who translate numbers, statistics, and figures into plain language for everyone to understand. The main reason behind the data analysis is to give a data-oriented foundation for decision-making. They usually look for patterns and trends in the given data so that they can make clear insights and provide clear and easy-to-understand reports.
Read our blog on Data Analyst Roles and Responsibilities
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a data analyst:
The average salary of a data analyst
Now, let us see the average salary of a data analyst in top countries:
- India ₹440,769/ year
- United States US$70,163/year
- United Kingdom £27,705/year
- Canada CA$57,615/ year
- Australia AU$72,037/year
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Network Analyst
Network analysts are professionals who are responsible for the installation and maintenance of all network equipment and components in a company. As a network analyst, it is your job to plan, design, analyze, and give technical support for the data communication group in the company. Many network analysts may find themselves involved in both business and technical aspects of the company. This implies that you may find it necessary to identify the problems in the business and offer technical solutions.
Skill required
Here are some of the primary skills that you need to develop in order to succeed in your role as a network analyst:
- Extensive and current knowledge of hardware, software, and programming
- Ability to explain technical information to non-technical people
- Excellent communications skills
- Good negotiating skills
- Good business understanding
- Good project management skills
- Good organization and problem-solving skills
The average salary of a network analyst:
Now, let us take a look at the average salary of a network analyst in top countries:
- India ₹358,901/year
- United States US$72,167/year
- United Kingdom £31,055/year
- Canada CA$62,805/year
- Australia AU$72,951/year
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Economic Analyst
As the name suggests, an economic analyst analyzes economic data, which includes the gross domestic product (GDP,) demand and supply, tax, and other similar topics to help the employer to make better decisions. As an economic analyst, you will be responsible for identifying key market factors that affect business. An economic analyst consolidates the results into a much easier-to-understand form of data to support the company’s decision-making process. An economic analyst is also responsible for the analysis of supply and demand around key factors that may have an impact on the company’s profit.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as an economic analyst:
- Structured Query Language (SQL)
- Data analysis
- Statistical Analysis System (SAS)
- Financial statements
- PowerPoint
- Critical thinking
The average salary of an economic analyst:
Now, let us take a look at the average salary of an economic analyst in top countries:
- India ₹589,581/year
- United States US$61,883/year
- United Kingdom £38,283/year
- Canada CA$65,883/year
- Australia AU$65,750/year
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Operations Analyst
An operations analyst is responsible for recognizing and solving issues that may affect the performance of the business operations. As an operations analyst, you should solve problems internally and implement goal-oriented strategies. The role of an operations analyst involves data management, trade process, and reporting to clients. The ultimate goal of an operations analyst is to have a smooth workflow in the company’s operations.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as an operations analyst:
- Customer service
- Structured Query Language (SQL)
- Data analysis
- Project management
- Compliance
The average salary of an operations analyst
Now, let us take a look at the average salary of an operations analyst in top countries:
- India ₹389,354/year
- United States US$76,468/year
- United Kingdom £29,710/year
- Canada CA$54,241/year
- Australia AU$67,787/year
Business Analyst
A business analyst is responsible for analyzing the structure and goals of the business and how the company uses technology. They usually research to identify the problems in a business and find the areas to improve. A business analyst analyzes customer needs, financial data, and technology requirements. As a part of the job, you, as a business analyst, will be overseeing the implementation of new technologies and systems.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a business analyst:
- Oral and written communication skills
- Interpersonal and consultative skills
- Facilitation skills
- Analytical thinking and problem-solving
- Being detail-oriented and capable of delivering high-level of accuracy
- Organizational skills
- Knowledge of the business structure
- Stakeholder analysis
The average salary of a business analyst
Now, let us take a look at the average salary of a business analyst in top countries:
- India ₹606,971/year
- United States US$76,474/year
- United Kingdom £36,136/year
- Canada CA$66,784/year
- Australia AU$82,223 /year
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Computer Systems Analyst
A computer systems analyst takes care of computer technology. They make sure that the company is using technology efficiently as well as effectively. A computer systems analyst will incorporate new technologies into current systems after a careful cost-benefit analysis. As a part of the job, you, as a computer systems analyst, will be required to research and evaluate new technologies, identify organizational needs of IT systems, test systems, and train users.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a computer systems analyst:
- Problem-solving and critical thinking
- Communication
- Reading comprehension
- Writing
- Analytical skills
- Creativity
The average salary of a computer systems analyst
Now, let us take a look at the average salary of a computer systems analyst in top countries:
- India ₹457,066/year
- United States US$70,181/year
- The United Kingdom £37,094/year
- Canada CA$65,465/year
- Australia AU$74,395/year
Technical Analyst
Technical analysts are professionals who are skilled in assessing the investments by the past performance and technical indicators. They help companies to make decisions on how to invest their wealth to get maximum returns and enhanced growth. They also organize and analyze the gathered data so that they can understand and implement the project requirements. They work on employee engagement during a project by going between employees and management. So, in simple terms, we can say that a technical analyst is responsible for communicating technical knowledge to the management.
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Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a technical analyst:
- Procedures
- Technical support
- Customer service
- Test scripts
- Business process
- Java
The average salary of a technical analyst
Now, let us take a look at the average salary of a technical analyst in top countries:
- India ₹706,227/year
- United States US$84,122/year
- United Kingdom £29,272/year
- Canada CA$56,378/year
- Australia AU$77,846/year
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Management Analyst
A management analyst is responsible for enhancing the efficiency of a company. Their main responsibility is to gather and organize information about the company’s problems, and then address and resolve them. A management analyst often provides ideas and recommendations to enhance a company’s productivity and increase its profit. They also interview people and review the company’s current processes.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a management analyst:
- Analytical skills
- Communication skills
- Time-management skills
- Problem-solving skills
The average salary of a management analyst:
Now, let us take a look at the average salary of a management analyst in top countries:
- India ₹431,131/year
- United States US$67,678/year
- United Kingdom £34,817/year
- Canada CA$63,575/year
- Australia AU$71,834/year
Also, check out the blog that is talking about supply chain analyst.
Business Systems Analyst
A business systems analyst analyzes a company’s growth and its plans. A business systems analyst tries to enhance the company’s plans while concentrating on improving efficiency in every aspect. A business systems analyst should know how to assess current data to create new ideas and budgets for the company. They are also responsible for improving a company’s profitability, and they do that by finding ways to improve the company’s income and, eventually, decrease the company’s expenses.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a business systems analyst:
- Problem-solving
- Communication skills
- Technical skills
- Project management
The average salary of a business systems analyst
Now, let us take a look at the average salary of a business systems analyst in top countries:
- India ₹796,030/year
- United States US$86,886/year
- United Kingdom £33,688/year
- Canada CA$68,881/year
- Australia AU$83,297/year
Program Analyst
A program analyst is responsible for assessing a company’s program to decide whether it is effective and efficient. They are often known as research analysts or program evaluators. One of the responsibilities of a program analyst is proposing ideas or suggestions to the management through presentations or written reports. A program analyst usually has meetings with the manager(s) to make sure that the proposed changes are executed and working correctly.
Skills required
Here are some of the primary skills that you need to develop in order to succeed in your role as a program analyst:
- Good analytical skills
- Communication skills
- Listening
- Interpersonal skills
- Problem-solving skills
- Time management
The average salary of a program analyst:
Now, let us take a look at the average salary of a program analyst in top countries:
- India ₹391,167/year
- United States US$96,676/year
- The United Kingdom £37,761/year
- Canada CA$60,500/year
- Australia AU$97,567/year
Also, have a look at Investment Banking Analyst.
Conclusion
I hope this blog gives you some insights on how many types of analysts are there, what they do, and their salaries in top countries. You can choose your career in different types of analytics based on your interests and skill sets. The salaries and numbers that are mentioned in the blog are just a gross average of many people’s salaries; so, you may get more or less but if you keep working on your skills, your salary will increase eventually.
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